Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on August 22 appeared before Enforcement Directorate (ED) in Mumbai and was questioned for nearly nine hours in connection with his alleged role in the probe related to a money laundering case.

The ED, a central investigation agency, is investigating alleged irregularities in loan and equity investment made by Infrastructure Leasing & Financial Services (IL&FS) in Kohinoor CTNL – a company founded by Unmesh Joshi, son of former Maharashtra Chief Minister Manohar Joshi.

Earlier
on August 19, Unmesh Joshi was grilled for seven hours in the ongoing ED’s investigation. The central investigation agency had summoned Raj Thackery and Joshi who were business partners during the purchase of Kohinoor Mill No 3 in Dadar West. However, Thackeray withdrew from the project within three years.

In order to maintain law and order, the Mumbai police had imposed section 144 outside ED’s office and in certain parts of the city while detaining MNS leaders and workers including Sandeep Deshpande and Avinash Jadhav.

Highlights of the Case

The Infrastructure Leasing & Financial Services (IL&FS) is facing money laundering probe after it defaulted on some of its debt and the company’s dues are worth ₹91,000 crore.

Along with this, Kohinoor CTNL – a company which is constructing Kohinoor Square Tower in Dadar West - as IL&FS provided loan and equity investment worth ₹860 crore while ED is investigating how the money was spent by the company founded by Unmesh Joshi.

Earlier in 2008, IL&FS had 49 per cent Kohinoor CTNL shares which it sold for ₹90 crore and recorded a loss of ₹135 crore. Raj Thackeray also exited the same year after selling his shares.

In the year 2011, in order to repay its loan, Kohinoor came in agreement with IL&FS to sell certain premises of the 52-storey Kohinoor Square. However, the company defaulted again.

After the IL&FS sold its shares recording a loss, Matoshree Realtors – Raj Thackeray and six other partner – sold its stake and earned ₹80 crore while the MNS chief got ₹20 crore and the rest were distributed among other partners.

Thackeray had 25 per cent stake in the Kohinoor Projects Private Limited’s (KPPL) consortium – Kohinoor CTNL. Matoshri realtors had invested ₹4 crore in the company. Of the ₹4 crore, ₹3 crore were borrowed from cooperative banks while ₹1 crore was withdrawn from two bank accounts.

Matoshree realtors made another investment worth ₹36 crore which came from several bank accounts. These transactions are currently being investigated by the ED.

Amid all this, ED may summon Raj Thackeray for the second time in order to investigate the ₹20 crore the MNS chief made without investing.